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Primo Brands Corp（PRMB）与UNITED THERAPEUTICS Corp（UTHR）财务数据对比。点击上方公司名可切换其他公司
Primo Brands Corp的季度营收约是UNITED THERAPEUTICS Corp的2.0倍（$1.6B vs $790.2M），UNITED THERAPEUTICS Corp净利率更高（46.1% vs -0.8%，领先46.9%），UNITED THERAPEUTICS Corp自由现金流更多（$173.3M vs $57.3M）
Primo Brands Corp是一家美加合资饮用水企业，主营多规格桶装水、饮水机、自助补水设备及净水家电，总部位于美国佛罗里达州坦帕市，服务覆盖美国、加拿大、欧洲及以色列的住宅与商业客户。
United Therapeutics是美国生物技术企业，专注开发包含异种移植在内的器官移植相关药物与技术，多款产品布局肺部疾病及器官制造赛道，双总部位于马里兰州银泉与北卡罗来纳州三角研究园，在美加多地设有研发及运营分支机构。
PRMB vs UTHR — 直观对比
营收规模更大
PRMB
是对方的2.0倍
$790.2M
净利率更高
UTHR
高出46.9%
-0.8%
自由现金流更多
UTHR
多$116.0M
$57.3M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $790.2M |
| 净利润 | $-13.0M | $364.3M |
| 毛利率 | 27.7% | 86.9% |
| 营业利润率 | 1.2% | 45.1% |
| 净利率 | -0.8% | 46.1% |
| 营收同比 | — | 7.4% |
| 净利润同比 | — | 20.9% |
| 每股收益（稀释后） | $-0.03 | $7.66 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收PRMBUTHR
| Q4 25 | $1.6B | $790.2M | ||
| Q3 25 | $1.8B | $799.5M | ||
| Q2 25 | $1.7B | $798.6M | ||
| Q1 25 | $1.6B | $794.4M | ||
| Q4 24 | — | $735.9M | ||
| Q3 24 | $0 | $748.9M | ||
| Q2 24 | $1.3B | $714.9M | ||
| Q1 24 | $1.1B | $677.7M |
净利润PRMBUTHR
| Q4 25 | $-13.0M | $364.3M | ||
| Q3 25 | $16.8M | $338.7M | ||
| Q2 25 | $27.6M | $309.5M | ||
| Q1 25 | $28.7M | $322.2M | ||
| Q4 24 | — | $301.3M | ||
| Q3 24 | $-2.0K | $309.1M | ||
| Q2 24 | $54.5M | $278.1M | ||
| Q1 24 | $33.5M | $306.6M |
毛利率PRMBUTHR
| Q4 25 | 27.7% | 86.9% | ||
| Q3 25 | 29.9% | 87.4% | ||
| Q2 25 | 31.3% | 89.0% | ||
| Q1 25 | 32.3% | 88.4% | ||
| Q4 24 | — | 89.7% | ||
| Q3 24 | — | 88.9% | ||
| Q2 24 | 32.7% | 89.1% | ||
| Q1 24 | 30.4% | 89.2% |
营业利润率PRMBUTHR
| Q4 25 | 1.2% | 45.1% | ||
| Q3 25 | 8.3% | 48.6% | ||
| Q2 25 | 6.5% | 45.6% | ||
| Q1 25 | 9.5% | 48.2% | ||
| Q4 24 | — | 48.6% | ||
| Q3 24 | — | 45.8% | ||
| Q2 24 | 12.1% | 44.7% | ||
| Q1 24 | 11.0% | 52.6% |
净利率PRMBUTHR
| Q4 25 | -0.8% | 46.1% | ||
| Q3 25 | 1.0% | 42.4% | ||
| Q2 25 | 1.6% | 38.8% | ||
| Q1 25 | 1.8% | 40.6% | ||
| Q4 24 | — | 40.9% | ||
| Q3 24 | — | 41.3% | ||
| Q2 24 | 4.1% | 38.9% | ||
| Q1 24 | 2.9% | 45.2% |
每股收益（稀释后）PRMBUTHR
| Q4 25 | $-0.03 | $7.66 | ||
| Q3 25 | $0.04 | $7.16 | ||
| Q2 25 | $0.07 | $6.41 | ||
| Q1 25 | $0.08 | $6.63 | ||
| Q4 24 | — | $6.23 | ||
| Q3 24 | $-20.00 | $6.39 | ||
| Q2 24 | $0.25 | $5.85 | ||
| Q1 24 | $0.15 | $6.17 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $376.7M | $2.9B |
| 总债务越低越好 | $5.2B | — |
| 股东权益账面价值 | $3.0B | $7.1B |
| 总资产 | $10.6B | $7.9B |
| 负债/权益比越低杠杆越低 | 1.72× | — |
8季度趋势，按日历期对齐
现金及短期投资PRMBUTHR
| Q4 25 | $376.7M | $2.9B | ||
| Q3 25 | — | $2.8B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $3.3B | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | — | $3.3B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $2.7B |
总债务PRMBUTHR
| Q4 25 | $5.2B | — | ||
| Q3 25 | $5.1B | — | ||
| Q2 25 | $5.1B | — | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益PRMBUTHR
| Q4 25 | $3.0B | $7.1B | ||
| Q3 25 | $3.2B | $6.6B | ||
| Q2 25 | $3.2B | $7.2B | ||
| Q1 25 | $3.3B | $6.8B | ||
| Q4 24 | — | $6.4B | ||
| Q3 24 | $-2.0K | $6.1B | ||
| Q2 24 | $-296.8M | $5.7B | ||
| Q1 24 | $-349.8M | $5.3B |
总资产PRMBUTHR
| Q4 25 | $10.6B | $7.9B | ||
| Q3 25 | $11.0B | $7.4B | ||
| Q2 25 | $11.0B | $7.9B | ||
| Q1 25 | $11.0B | $7.7B | ||
| Q4 24 | — | $7.4B | ||
| Q3 24 | $0 | $7.1B | ||
| Q2 24 | — | $6.7B | ||
| Q1 24 | — | $6.5B |
负债/权益比PRMBUTHR
| Q4 25 | 1.72× | — | ||
| Q3 25 | 1.61× | — | ||
| Q2 25 | 1.57× | — | ||
| Q1 25 | 1.51× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $203.1M | $346.2M |
| 自由现金流经营现金流 - 资本支出 | $57.3M | $173.3M |
| 自由现金流率自由现金流/营收 | 3.7% | 21.9% |
| 资本支出强度资本支出/营收 | 9.4% | 21.9% |
| 现金转化率经营现金流/净利润 | — | 0.95× |
| 过去12个月自由现金流最近4个季度 | $302.9M | $1.0B |
8季度趋势，按日历期对齐
经营现金流PRMBUTHR
| Q4 25 | $203.1M | $346.2M | ||
| Q3 25 | $283.4M | $562.1M | ||
| Q2 25 | $155.0M | $191.7M | ||
| Q1 25 | $38.8M | $461.2M | ||
| Q4 24 | — | $341.2M | ||
| Q3 24 | $0 | $377.2M | ||
| Q2 24 | $102.5M | $232.2M | ||
| Q1 24 | $6.0M | $376.5M |
自由现金流PRMBUTHR
| Q4 25 | $57.3M | $173.3M | ||
| Q3 25 | $167.7M | $351.6M | ||
| Q2 25 | $101.1M | $129.5M | ||
| Q1 25 | $-23.2M | $386.3M | ||
| Q4 24 | — | $254.5M | ||
| Q3 24 | — | $300.7M | ||
| Q2 24 | $61.4M | $187.1M | ||
| Q1 24 | $-17.5M | $338.3M |
自由现金流率PRMBUTHR
| Q4 25 | 3.7% | 21.9% | ||
| Q3 25 | 9.5% | 44.0% | ||
| Q2 25 | 5.8% | 16.2% | ||
| Q1 25 | -1.4% | 48.6% | ||
| Q4 24 | — | 34.6% | ||
| Q3 24 | — | 40.2% | ||
| Q2 24 | 4.7% | 26.2% | ||
| Q1 24 | -1.5% | 49.9% |
资本支出强度PRMBUTHR
| Q4 25 | 9.4% | 21.9% | ||
| Q3 25 | 6.6% | 26.3% | ||
| Q2 25 | 3.1% | 7.8% | ||
| Q1 25 | 3.8% | 9.4% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 10.2% | ||
| Q2 24 | 3.1% | 6.3% | ||
| Q1 24 | 2.1% | 5.6% |
现金转化率PRMBUTHR
| Q4 25 | — | 0.95× | ||
| Q3 25 | 16.87× | 1.66× | ||
| Q2 25 | 5.62× | 0.62× | ||
| Q1 25 | 1.35× | 1.43× | ||
| Q4 24 | — | 1.13× | ||
| Q3 24 | — | 1.22× | ||
| Q2 24 | 1.88× | 0.83× | ||
| Q1 24 | 0.18× | 1.23× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
PRMB
| Regional Spring Water | $765.1M | 49% |
| Purified Water | $484.5M | 31% |
| Other | $188.4M | 12% |
| Premium Water | $90.3M | 6% |
| Other Water | $25.8M | 2% |
UTHR
| Tyvaso DPI | $338.6M | 43% |
| Remodulin | $128.0M | 16% |
| Nebulized Tyvaso | $125.7M | 16% |
| Orenitram | $121.2M | 15% |
| Unituxin | $62.3M | 8% |
| Adcirca | $7.8M | 1% |
| Other | $6.6M | 1% |
